U.S. patent number 4,677,933 [Application Number 06/801,064] was granted by the patent office on 1987-07-07 for stock price tracking apparatus.
Invention is credited to Thomas B. Rotella.
United States Patent |
4,677,933 |
Rotella |
July 7, 1987 |
Stock price tracking apparatus
Abstract
Stock price tracking apparatus includes a base having at least
one side; a chart removably mounted on each side and each chart
including a first scale and a second scale; a lever associated with
each side for monitoring a stock price to determine when to sell or
retain a stock, each lever removably and pivotally mounted on the
respective side along the first scale at a selected position
corresponding to a stop loss setting, each lever including a
pointer for pointing to a second stock price along the second scale
as the lever is pivoted on the base about the selected position,
and a channel extending along each lever; a retaining spring for
releasably retaining each lever in a selected pivoted position; and
a ball movable in each channel between a first position when the
second stock price is above the stop loss setting and a second
position when the second stock price is not greater than the stop
loss setting for indicating when to sell or retain the stock.
Inventors: |
Rotella; Thomas B. (Clifton,
NJ) |
Family
ID: |
25180098 |
Appl.
No.: |
06/801,064 |
Filed: |
November 22, 1985 |
Current U.S.
Class: |
116/313; 116/222;
116/306; 116/316; 283/117; 283/48.1; 434/107 |
Current CPC
Class: |
G09B
19/18 (20130101) |
Current International
Class: |
G09B
19/18 (20060101); G09B 19/00 (20060101); G09B
019/18 (); G09F 009/00 () |
Field of
Search: |
;116/215,222-225,311-332,DIG.1,DIG.3,DIG.6,DIG.23,DIG.37,303,305,306,309
;235/90,123,127 ;434/107,194 ;368/93,223 ;283/1R,48R
;273/1GF,256,278,DIG.26 ;446/168-170,172 |
References Cited
[Referenced By]
U.S. Patent Documents
Foreign Patent Documents
Primary Examiner: Frankfort; Charles
Assistant Examiner: Worth; W. Morris
Attorney, Agent or Firm: Goldberg; Richard M.
Claims
What is claimed is:
1. Stock price tracking apparatus, comprising:
a base;
a first scale on said base;
lever means releaseably retainable in a selected pivoted position
for monitoring prices of a selected stock to determine one of: (a)
when to buy or retain and (b) when to sell or retain said selected
stock, said lever means removably and pivotally mounted on said
base along said first scale at a selected position corresponding to
a selected price for said stock, said lever means including pointer
means for pointing to an actual price for said stock on said second
scale, said lever means being pivoted by an external force about
said selected position in accordance with changes in said actual
price for said stock, and a channel extending along said lever
means; and
ball means movable in said channel between a first position and
second position in correspondence with the pivoted position of said
lever means for indicating one of: (a) when to buy or retain and
(b) when to sell or retain said stock in dependence upon the
position of said ball means and upon the relationship between said
selected price for said stock on said first scale corresponding to
said selected position of said lever means and said actual price
for said stock on said second scale pointed to by said pointer
means.
2. Apparatus according to claim 1; further including retaining
means for releasably retaining said lever means in a selected
pivoted position.
3. Apparatus according to claim 2; wherein said retaining means
includes spring means for releasably retaining said lever means in
said selected pivoted position, said spring means being secured to
said base and removably biased into contact with said lever
means.
4. Apparatus according to claim 3; wherein said spring means
includes a coil spring secured to said base and stretched over said
lever means.
5. Apparatus according to claim 3; wherein said retaining means
includes a wire rod secured to said base, and biasing means for
biasing said wire rod into contact with said lever means.
6. Apparatus according to claim 5; wherein said biasing means
includes at least one pin secured to said base and around which
said wire rod extends for biasing said wire rod into contact with
said lever means.
7. Stock price tracking apparatus, comprising:
a base having a cube configuration with four sides;
a first scale on each side of said base;
a second scale on each side of said base;
lever means mounted on each side of said base and releaseably
retainable in a selected position for monitoring prices of a
selected stock to determine one of: (a) when to buy or retain and
(b) when to sell or retain said selected stock, each said lever
means removably and pivotally mounted on a side of said base along
said first scale at a selected position corresponding to a selected
price for said stock, each said lever means including pointer means
for pointing to an actual price for said stock on said second
scale, said lever means being pivoted by an external force about
said selected position in accordance with changes in said actual
price for said stock, and a channel extending along said lever
means; and
ball means associated with each lever means and movable in the
respective channel between a first position and a second position
in correspondence with the pivoted position of said lever means for
indicating one of: (a) when to buy or retain and (b) when to sell
or retain said stock in dependence upon the position of said ball
means and upon the relationship between said selected price for
said stock on said first scale corresponding to said selected
position of said lever means and said actual price for said stock
on said second scale pointed to by said pointer means.
8. Apparatus according to claim 7; further including support means
for supporting a plurality of said bases having said cube
configuration, said support means including a support platform and
an upstanding support shaft secured to said support platform; and
wherein each base having said cube configuration has a top, a
bottom, and a first aperture in said top and a second aperture in
said bottom through which said support shaft extends, wherein a
plurality of said bases can be rotatably supported on said support
shaft.
9. Stock price tracking apparatus, comprising:
a base in the form of a stand having opposite sides;
a first scale on each side of said base;
a second scale on each side of said base;
lever means mounted on each side of said base and releaseably
retainable in a selected position for monitoring prices of a
selected stock to determine one of: (a) when to buy or retain and
(b) when to sell or retain said selected stock, said lever means
removably and pivotally mounted on each side of said base along
said first scale at a selected position corresponding to a selected
price for said stock, said lever means including pointer means for
pointing to an actual price for said stock on said second scale,
said lever means being pivoted by an external force about said
selected position in accordance with changes in said actual price
for said stock, and a channel extending along said lever means;
and
ball means associated with each lever and movable in the respective
channel between a first position and a second position in
correspondence with the pivoted position of said lever means for
indicating one of: (a) when to buy or retain and (b) when to sell
or retain said stock in dependence upon the position of said ball
means and upon the relationship between said selected price for
said stock on said first scale corresponding to said selected
position of said lever means and said actual price for said stock
said on said second scale pointed to by said pointer means.
10. Stock price tracking apparatus, comprising:
a plurality of bases mounted on a common wall, each base in the
form of a display having a side;
a first scale on each said base;
a second scale on each said base;
lever means mounted on said side of each base and releaseably
retainable in a selected position for monitoring prices of a
selected stock to determine one of: (a) when to buy or retain and
(b) when to sell or retain said selected stock, each said lever
means removably and pivotally mounted on said base along said first
scale at a selected position corresponding to a selected price for
said stock, each said lever means including pointer means for
pointing to an actual price for said stock on said second scale,
said lever means being pivoted by an external force about said
selected position in accordance with changes in said actual price
for said stock, and a channel extending along said lever means;
and
ball means associated with each lever means and movable in said
channel between a first position and a second position in
correspondence with the pivoted position of said lever means for
indicating one of: (a) when to buy or retain and (b) when to sell
or retain said stock in dependence upon the position of said ball
means and upon the relationship between said selected price for
said stock on said first scale corresponding to said selected
position of said lever means and said actual price for said stock
on said second scale pointed to by said pointer means.
11. Apparatus according to claim 1; wherein said pointer means
includes screw means screw threadedly received within said lever
means for pointing to said actual price for said stock on said
second scale as said lever means is pivoted on said base about said
selected position.
12. Apparatus according to claim 1; wherein said pointer means is
fixedly secured to said lever means.
13. Apparatus according to claim 1; wherein said lever means
includes pocket means for retaining said ball means at one end of
said channel when said lever means is moved to a certain pivoted
position.
14. Apparatus according to claim 13; wherein said lever means
includes alarm means for indicating when said ball means is
positioned within said pocket means.
15. Apparatus according to claim 13; wherein said lever means
includes a through bore in communication with said pocket means and
through which a pin can be inserted for removing said ball means
from said pocket means.
16. Apparatus according to claim 1; wherein said lever means
includes gripping means for moving said lever means to different
selected pivoted positions.
17. Apparatus according to claim 16; wherein said gripping means
has a width less than the width of the remainder of said lever
means.
18. Apparatus according to claim 16; further including retaining
means in contact with said gripping means for releasably retaining
said lever means at a position to which said lever means has been
pivoted.
19. Apparatus according to claim 1; wherein said lever means
includes lever extension means pivotally mounted on said base along
said first scale at the same selected position that said lever
means is pivoted about and pivotally mounted with respect to said
lever means, and fastening means for securing said lever extension
means and said lever means together at a desired position to which
each has been pivoted relative to the other.
20. Apparatus according to claim 19; wherein each of said lever
means and said lever extension means includes an elongated slot,
and said fastening means includes bolt means extending through said
slots for securing said lever means and said lever extension means
together at a desired position to which each has been pivoted
relative to the other.
21. Apparatus according to claim 1; wherein said first stock price
corresponds to a stop loss setting, and said ball means is movable
in said channel between said first position when said actual price
for said stock is above said stop loss setting and said second
position when said actual price for said stock is not greater than
said stop loss setting.
22. Apparatus according to claim 1; further including a chart
removably secured to said base, said chart including said first and
second scales.
Description
BACKGROUND OF THE INVENTION
This invention relates generally to stock price tracking apparatus
and, more particularly, is directed to a stop loss annunciator for
tracking a plurality of stop loss orders.
Investors in the stock market must continuously be aware of the
price of their stocks in order to determine what further action to
take, that is, whether to buy, sell or hold onto the stocks. In
this regard, investors commonly use stop loss orders. A stop loss
order is an order given to the broker to sell the stock at the
market price if the stock price drops to a certain predetermined
level. For example, a common indicator for a stop loss order is 10%
of the then selling or market price, that is, if the stock price
drops 10%, the broker has a standing order to sell the stock at the
then market price.
As such, stop loss orders act as a safety net so that the investor
can avoid major losses and also prevent complete devastation,
particularly in the case of margin accounts. In a sense, stop loss
orders are insurance that the stock price will not drop any further
than a predetermined price.
However, for an investor with a large stock portfolio, it becomes
difficult to keep track of a plurality of stop loss orders.
OBJECTS AND SUMMARY OF THE INVENTION
Accordingly, it is an object of the present invention to provide
stock price tracking apparatus that permits easy setting and
tracking of stop loss orders for a multitude of stocks.
It is another object of the present invention to provide stock
price tracking apparatus in which mental stop loss prices can be
monitored, rather than placing rigid stop loss orders with the
broker and then having to change them from time to time, to the
annoyance of the broker.
It is still another object of the present invention to provide
stock price tracking apparatus having much greater flexibility in
monitoring stop loss orders than can be achieved by placing an
advanced, fixed stop loss order with a broker.
In accordance with an aspect of the present invention, stock price
tracking apparatus includes a base; a first scale on the base; a
second scale on the base; lever means for monitoring a stock price
to determine when to buy, sell or retain a stock, the lever means
removably and pivotally mounted on the base along the first scale
at a selected position corresponding to a first stock price, the
lever means including pointer means for pointing to a second stock
price along the second scale as the lever means is pivoted on the
base about the selected position, and a channel extending along the
lever means; and ball means movable in the channel between a first
position and a second position in correspondence with the pivoted
position of the lever means for indicating when to buy, sell or
retain the stock.
The above and other, objects, features and advantages of the
present invention will become readily apparent from the following
detailed description which is to be read in connection with the
accompanying drawings.
BRIEF DESCRIPTION OF THE DRAWINGS
FIG. 1 is a perspective view of a stop loss annunciator according
to one embodiment of the present invention;
FIG. 2A is a perspective view of a stop loss annunciator according
to another embodiment of the present invention;
FIG. 2B is a perspective view of the retaining means of the stop
loss annunciator of FIG. 2A;
FIG. 3 is a side elevational view of the stop loss annunciator of
FIG. 2A;
FIG. 4 is a perspective view of a stop loss annunciator according
to still another embodiment of the present invention;
FIG. 5 is a perspective view of one embodiment of a lever for use
with the stop loss annunciator according to the present
invention;
FIG. 6 is a top plan view of the lever of FIG. 5;
FIG. 7 is a bottom plan view of the lever of FIG. 5;
FIG. 8 is a front elevational view of the lever of FIG. 5;
FIG. 9 is a front elevational view of another embodiment of a lever
for use with the stop loss annunciator according to the present
invention;
FIG. 10 is a bottom plan view of the lever of FIG. 9;
FIG. 11 is a partial cross-sectional view of still another
embodiment of a lever for use with the stop loss annunciator
according to the present invention;
FIG. 12 is a front elevational view of a pointer setting device,
shown with the lever of FIG. 5; and
FIG. 13 is a front elevational view of yet another embodiment of a
lever according to the present invention.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
Referring to the drawings in detail, and initially to FIG. 1
thereof, a stock price annunciator 10 according to a first
embodiment of the present invention includes a base cube 12 having
a top 14, a bottom 16 and four sides 18, 20, 22 and 24. Base cube
12 may be made of any suitable material, such as plastic, wood or
the like, and is preferably hollow to reduce the weight and amount
of material. As shown, top 14 includes a central opening 26 and,
although not shown, bottom 16 also includes a central opening. In
this manner, a plurality of base cubes 12 can be stacked on a
support platform 28 through an upstanding support shaft 30 mounted
on platform 28. With this arrangement, each base cube 12 can be
rotated about the axis of support shaft 30 for easy viewing of any
side 18, 20, 22 or 24 of any cube 12. Although only three base
cubes 12 are shown, it will be appreciated that any desired number
of base cubes 12 can be provided by merely extending the height of
support shaft 30.
Each side 18, 20, 22 and 24 includes means for securing a chart 32
thereon. For example, such means may take the form of four pins 34
extending from each side of base cube 12, two pins 34 being spaced
from each other at the upper end of each side and two pins 34
spaced from each other at the lower end of each side. The pins 34
at the lower end of each side may have enlarged heads, much like
nails, the reason for which will be apparent from the discussion
which follows.
Chart 32 may be in the form of a flat sheet of preprinted paper
having two apertures 36 at the upper end thereof through which pins
34 at the upper end of the respective side extend. The lower part
of chart 32 includes two spaced lead-in channels 38 through which
pins 34 at the lower end of the respective side extend, whereby
chart 32 can be removably secured to a respective side 18, 20, 22
or 24.
As shown, each chart 32 includes a first columnar scale 40
extending along the left edge thereof and having a plurality of
numbers 42 extending in ascending order from the lower edge to the
upper edge of chart 32. Chart 32 also includes a second columnar
scale 44 extending along the right edge thereof and having a
plurality of numbers 46 extending in ascending order from the lower
edge to the upper edge of chart 32. Scales 40 and 44 correspond to
stock prices and are preferably identical to each other. The scales
can be made to correspond to any range of stock prices by only
including unit digits 0-9 in each scale, as shown. Thus, tens and
hundreds digits, if applicable, can be added by the user, in
accordance with the range of stock prices to be covered by scales
40 and 44. As shown, scale 40 includes a circle 48 adjacent each
number 42, the reason for which will become apparent from the
discussion which follows. Each chart 32 may also include various
indicia, for example, instructions 50 on how to fill in chart 32,
and a blank area 52 for filling in such information as the name of
the stock, the purchase date and the purchase price. However, any
suitable modification of charts 32 can be made, as long as there
are two scales 40 and 44.
Referring now to FIGS. 1 and 5-8, stock price annunciator 10
further includes a lever 54 associated with each side 18, 20, 22
and 24, each lever 54 being identical to any other lever 54.
Accordingly, only one such lever 54 will be described. Lever 54
preferably has a wedge-shaped configuration, as shown in the rear
plan view of FIG. 8, and includes a pivot pin 58 extending from the
rear face 60 at the narrow end of wedge-shaped lever 54, as shown
in FIG. 8. In accordance with the present invention, pivot pin 58
is removably fit through a circle 48 on chart 32 into a respective
side of base cube 12. In this regard, sides 18, 20, 22 and 24 of
base cube 12 are made of a material that permits insertion and
removal of pivot pin 58 therefrom. Alternatively, each of sides 18,
20, 22 and 24 may include a plurality of apertures (not shown) in
line with circles 48 when a chart 32 is positioned thereover for
receiving pivot pin 58, whereby pivot pin 58 can be easily inserted
and removed from each aperture. It is only important that pivot pin
58 can be selectively inserted and removed from a side of base cube
12, and pivotally secured in a selected aperture in the respective
side.
As shown more clearly in FIGS. 5-8, lever 54 includes an elongated
channel 62 extending in the lengthwise direction on the upper
surface thereof. As will be discussed in greater detail
hereinafter, channel 62 carries a ball 64, which can roll from one
end of channel 62 to the other end thereof, depending on the angle
of inclination of lever 54. A pocket or depression 66 is formed in
channel 62 adjacent the free end of lever 54 so as to capture ball
64 when lever 54 is downwardly inclined. In this manner, pocket 66
prevents ball 64 from rolling back. A through bore 67 extends
through lever 54 and, in particular, through pocket 66. In this
regard, when ball 64 rolls into pocket 66, a pin or the like (not
shown) can be inserted through bore 67 to remove ball 64 from
pocket 66.
A pointer 68 is formed at the free end of lever 54. In the
embodiment shown in FIGS. 5-8, pointer 68 takes the form of a screw
or bolt 70 screw threadedly received in a vertically oriented
aperture 72 formed at the free end of lever 54. As lever 54 is
pivoted about pivot pin 58, pointer 68 will be associated with the
numbers 46 of second scale 44. In accordance with the present
invention, pointer 68 is set so that lever 54 is tilted slightly in
the downward direction when pointer 68 points to a number 46 which
is identical to the number 42 at which lever 54 is pivoted. In this
regard, a pointer setting device 69 which can be constructed from
cardboard, plastic or any other suitable material, can be provided
in the configuration shown in FIG. 12, for easily adjusting pointer
68 by appropriately turning screw or bolt 70.
In addition, as shown, lever 54 includes a gripping tab 74 at the
free end thereof by which a user can grip and thereby pivot lever
54 to any desired position. Preferably, gripping tab 74 is narrower
than the remainder of lever 54, as shown, the reason for which will
become apparent from the description which follows.
Referring back to FIG. 1, retaining means 76 is provided for
retaining lever 54 in a desired pivoted position. In the embodiment
of FIG. 1, retaining means 76 includes a coil spring 78, a first
end of which is secured to a first post 80 at the upper end of the
respective side 18, 20, 22 or 24 along the right edge thereof and a
second end of which is secured to a second post 82 at the lower end
of the respective side 18, 20, 22 or 24 along the right edge
thereof. First and second posts 80 and 82 are preferably removably
secured within apertures (not shown) in the respective side to
permit different charts 32 to be removed and added to the side.
Alternatively, each chart 32 may include a lead-in channel, much
like lead-in channels 38, by which the charts can be inserted over
and removed from posts 80 and 82. Coil spring 78 is stretched
between posts 80 and 82 and exerts a restraining force on gripping
tab 74 of lever 54, whereby lever 54 can be pivoted by moving
gripping tab 74 to a desired position against the restraining force
of coil spring 78. However, once such external pivoting force is
removed, coil spring 78 maintains lever 54 in the pivoted
position.
In operation, the user first adds the appropriate tens and hundreds
digits, if applicable, to scales 40 and 44 of each chart 32 in
accordance with the range of stock prices to be used. Generally, a
range is provided in which the purchase price of the stock is
substantially centrally located along scales 40 and 44. The user
then secures charts 32 to each side 18, 20, 22 and 24 of base cube
12. This is accomplished by removing lever 54, coil spring 78 and
posts 80 and 82 from each side. However, coil spring 78 and posts
80 and 82 can remain in the respective side during such change if
the charts have their bottom and top right edges chamferred.
In accordance with the present invention, wherein stop loss orders
are continuously and easily monitored, the user inserts the pivot
pin 58 of each lever 54 into a respective side 18, 20, 22 or 24 and
through a circle 48 corresponding to a number 42 of scale 40 which
is, for example, 10% less than the then selling or market price of
the stock. This number 42 represents the stop loss price at which
the stock is to be sold. It will be appreciated that any other
suitable spread, such as 5%, 8% or the like, may be used for
setting the stop loss order settings, depending on the price of the
stocks. Posts 80 and 82 and coil spring 78 are then inserted into
each side of base cube 12, as shown in FIG. 1. Then, each lever 54
is pivoted upwardly to a position at which pointer 68 points to the
current price of the stock, as shown in dashed lines in the
uppermost base cube 12 of FIG. 1. In this position, the ball 64 in
each channel 62 rolls toward the left or pivoted end of the
respective lever 54.
If the price of the stock drops, the respective lever 54 is
pivotally lowered in accordance with such drop in price. Coil
spring 78 maintains lever 54 in each pivoted position. If the price
of the stock drops to a value which represents a 10% or greater
drop, lever 54 is pivoted to a position which is below level. As a
result, ball 64 therein rolls into pocket 66 to indicate such price
drop. This is an indication to the investor that he should contact
his broker to place a sell order. In this manner, a user can
readily keep track of a plurality of stop loss orders, and
determine when to sell the stock. If the price of the stock does
not drop at all, or drops to a value which represents a less than
10% drop, ball 64 does not roll into pocket 66, thereby providing
an indication to the investor that he should retain the stock.
Further, mental stop loss prices can be monitored, rather than
placing rigid stop loss orders with the broker and then having to
change them from time to time, to the annoyance of the broker. The
present invention therefore provides much greater flexibility in
monitoring stop loss orders than can be achieved by placing an
advanced fixed stop loss order with a broker.
Of course, if the price of the stock increases too much, the stop
loss order is changed. In such case, pivot pin 58 is removed from
the circle 48 it then occupies, and is inserted within the
respective side through another circle 48 which corresponds to a
number 44 of greater value. In other words, the stop loss order is
raised. For example, when the price of the stock reaches a value
10% greater than the then previous market price, the stop loss
order is raised to a value equal to the previous market price, and
the lever 54 is pivoted to a position where pointer 68 points to
the current market price. Then, if the stock falls to the previous
market price, the stock is sold. The stop loss setting of pivot pin
58 is periodically changed as the stock increases in price.
The present invention can also be used for monitoring stocks to
determine when to buy a stock, as indicated by lever 654 in FIG.
13. In such case, lever 654 includes a pocket 666 on the left side
of channel 662, with the ball rolling from right to left. Thus,
pointer 668 would be set to a price which is 10% less than the then
expected price at which lever 654 would be pivoted. When the price
of the stock rises by 10%, the ball would roll from right to left
to indicate an opportunity where an investor should buy a stock
before it rises any further (that is, to indicate a time when a
security is breaking out on the upside), to indicate a buy stop
loss order, or to cover a "short" position.
Use of the present invention is not limited to stocks, but can also
be used with respect to option trading and in future trading.
Referring now to FIGS. 2A, 2B and 3, there is shown a stop loss
annunciator 110 according to another embodiment of the present
invention, in which like parts are represented by like numerals
augmented by 100, and a detailed description thereof will not be
given for the sake of brevity. Specifically, a base stand 112 is
provided in place of base cube 12. Base stand 112 includes a
support platform 128 and a support panel 184 secured to support
platform 128 in an upstanding position. As shown, support panel 184
includes two opposite sides 118 and 122 which include pins 134 at
the upper and lower ends thereof for supporting respective charts
132 in the same manner as pins 34 of FIG. 1. Further, the lower end
of support panel 184 is cut away at the edges thereof, as shown in
FIGS. 2A and 3, to define undercut sections 186. Chart 132 is
constructed in a substantially identical manner to chart 32 of FIG.
1.
Lever 154 is constructed in an identical manner to lever 54 of FIG.
1, with the exception that pointer 68 is formed as a triangular
section 170 fixedly secured to lever 154, rather than the
adjustable screw or bolt 70 of FIG. 1.
Further, retaining means 176 includes a wire rod 178 bent in a
U-shape, as shown in FIG. 2B, and includes two eyes 188 at opposite
ends thereof. Eyes 188 are secured to posts 180 at the top 114 of
support panel 184 and to posts 182 at undercut sections 186 of
support panel 184, whereby wire rod 178 extends over gripping tab
174. Biasing pins 190 are also secured to top 114 and undercut
sections 186, around which wire rod 178 travels. In this regard,
biasing pins 190 are positioned so as to provide a biasing force to
wire rod 178, whereby wire rod 178 applies a restraining force to
gripping tab 174, and thereby functions in an identical manner to
coil spring 78 of FIG. 1.
Referring now to FIG. 4, there is shown another embodiment of the
present invention, in which like elements similar to those in FIG.
1 are represented by the same numerals augmented by 200, and a
detailed description thereof will be omitted herein for the sake of
brevity. As shown, stock price annunciator 210 of FIG. 4 differs
from the previously discussed embodiments by the use of a plurality
of flat display bases or plaques 212 which are mounted on a common
wall 292. In this regard, a user can monitor any number of stocks
at a single glance.
Referring now to FIGS. 9 and 10, there is shown another embodiment
of a lever according to the present invention, in which like
elements similar to those in FIGS. 5-8 are represented by the same
numerals augmented by 300, and a detailed description of such like
elements will be omitted herein for the sake of brevity. As shown,
lever 354 is of an adjustable spread type and, in this regard,
includes an elongated, substantially vertically oriented slot 394
extending therethrough. A lever extension 354a is pivotally mounted
with respect to lever 354 about pivot pin 358, and is positioned
behind lever 354, as shown in FIG. 10. Lever extension 354a
includes a similar elongated, substantially vertically oriented
slot 394a in coincidence with slot 394 of lever 354. A fastening
device 396 in the form of a bolt 397 extending through slots 394
and 394a, and a nut 398 secured to the end of bolt 397, serves to
secure lever 354 and lever extension 354a together, that is, to
prevent pivoting movement of lever extension 354a with respect to
lever 354. In this regard, lever extension 354a can be pivoted with
respect to lever 354 and secured at different desired positions to
accommodate different spreads in stock prices on the charts.
Accordingly, the bottom of lever 354 can be made to appear parallel
to horizontal when a stop loss price is achieved, regardless of the
spread in stock prices on charts 32. In a sense, the fan-like
arrangement of lever 354 functions as a visual aid to the user.
Referring now to FIG. 11, there is shown another embodiment of a
lever according to the present invention, in which like elements
similar to those in FIGS. 5-8 are represented by the same numerals
augmented by 400, and a detailed description of such like elements
will be omitted herein for the sake of brevity. As shown, lever 454
includes an internal cavity 500 which contains a battery 502 and
terminal ends 504 and 506 which hold battery 502 in the position
shown and electrically connect battery 502 to a circuit 508 which
will now be described.
Circuit 508 includes an alarm device 510 which may take any
suitable form. For example, as shown, alarm device 510 is a lamp
which is visible through an aperture (not shown) at the front of
lever 454. Any other suitable alarm device, such as a bell, buzzer
or the like may be substituted for the lamp. Circuit 508 further
includes conducting wires 512 and 514 which are electrically
connected at one end thereof to terminal ends 504 and 506,
respectively. The opposite end of wire 512 extends to the surface
of pocket 466, while the opposite end of wire 514 is connected to
alarm device 510. A separate wire 516 is connected between alarm
device 510 and the surface of pocket 466 in spaced relation to the
opposite end of wire 512. With this embodiment, ball 464 is made of
a conducting metal material.
In operation, when lever 454 is pivoted downwardly to the stop loss
setting, ball 464 rolls in channel 462 into pocket 466. At this
time, ball 464 closes circuit 508, whereby current is supplied from
battery 502 to alarm device 510, and the lamp lights to indicate to
the user that a stop loss setting has been reached.
Having described specific preferred embodiments of the invention
with reference to the accompanying drawings, it will be appreciated
that the present invention is not limited to those precise
embodiments, and that various changes and modifications can be
effected therein by one of ordinary skill in the art without
departing from the scope and spirit of the invention as defined by
the appended claims.
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